Just as a reminder, we have been spending the last few weeks of Uncertainty Wednesday exploring different measures of uncertainty. We first looked at entropy which is a measure based only on the states of the probability distributions itself. We then encountered random variables, which associate values or “payouts” with states and learned about their expected value and variance (including continuous random variables). Today we will look at functions of random variables. We will assume that we...

Just as a reminder, we have been spending the last few weeks of Uncertainty Wednesday exploring different measures of uncertainty. We first looked at entropy which is a measure based only on the states of the probability distributions itself. We then encountered random variables, which associate values or “payouts” with states and learned about their expected value and variance (including continuous random variables). Today we will look at functions of random variables. We will assume that we...